Law Firm News

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Lowndes, Drosdick, Doster, Kantor & Reed, P.A.

Hal Kantor was named "Number 17" of 50 individuals highlight in "Orlando's Most Powerful People" featured in the July issue of Orlando Magazine.
Hal Kantor was named "Number 17" of 50 individuals highlighted in "Orlando's Most Powerful People" featured in the July issue of Orlando Magazine.

Community leaders were polled asking who holds the power in the community. The magazine defined power narrowly, "as the ability to make your will prevail on community issues." Additional consideration included, "Who would you want on your side in a fight?" "Who could pick up the telephone and call the governor, or even the president?" "Who would you not want to cross in a fight?"

07-13-2007

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Bingham McCutchen, LLP

Bingham Adds Two Film Finance Partners in Southern California
Rose PeBenito Shiner and Ronald K. Sittler have joined the Financial Institutions Practice Area as partners in the Los Angeles office of Bingham McCutchen LLP. They joined the firm from Buchalter Nemer in Los Angeles.

Their arrival marks a continued growth for Bingham’s Financial Institutions practice in southern California, which gained significant commercial litigation experience through its combination with legacy firm Alschuler Grossman in May. The Financial Institutions Practice Area also added partners Anthony Callobre and Mark Spitzer to the Los Angeles office last November.

“We are very pleased to continue to grow our finance and litigation practice in Los Angeles with the addition of Rose and Ron,” said Los Angeles managing partner Richard Welch. “Their extensive experience in film finance matters will help us better serve many of our institutional clients who are actively engaged in the growing film financing market.”

Shiner, who joined the Banking and Leveraged Finance Practice Group, represents financial institutions in all aspects of motion picture lending, complex multi-source financing and credit facilities. She advises clients on numerous secured financing transactions and co-production arrangements, U.S. state tax credits and incentives for domestic productions, subordinated debt and equity arrangements, and syndicated film slate financings.

Shiner also advises clients on litigation matters related to entertainment financing, including those involving foreign and domestic film distributors, completion guarantors, directors, producers and sales agents.

“Bingham presents a national and international platform for expanding our film finance practice, and we are very excited about the prospects of what that will bring to our practice,” Shiner said. “It was the right fit it all respects, from the firm’s practices to its direction, and we are happy to be a part of the Bingham legal team.”

Sittler, who joined the Financial Institutions Litigation Group, focuses on business litigation, lender liability, business fraud, unfair business practices, and independent film and television alliance arbitrations. He advises financial institutions on all aspects of motion picture finance, including drafting and negotiation of inter-party and inter-creditor arrangement, assignments, and license and security arrangements.

He has extensive experience in independent film finance, including distribution, intellectual property, international tax mitigation, accounting and multiple creditor disputes. Sittler serves on the International Film and Television Alliance (IFTA) Legal Committee, where he provides advice to the rules and procedures for film arbitration governed by IFTA.

“Rose and I are excited about bringing our film finance practice to a firm with such a rich history and tradition as Bingham,” Sittler said. “The depth of Bingham’s Financial Institutions practice and the firm’s resources will add more value to the services we provide our clients.”

Shiner is a 1998 graduate of Loyola Law School and a 1993 graduate of the University of San Francisco. Sittler is a 1996 graduate of Whittier Law School and a 1990 graduate of the U.S. Air Force Academy. He also holds a master’s in public administration from the University of Southern California.

07-13-2007

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Williams Mullen, P.C.

Williams Mullen Represents Investment Firms in $2.0 Billion Genesis HealthCare Acquisition
Formation Capital and JER Partners announced today they have completed the acquisition of Genesis HealthCare Corporation ("Genesis", previously NASDAQ: GHCI). The total enterprise value of the transaction was approximately $2.0 billion. Pursuant to the terms of amended merger agreement entered into on May 19, 2007, Genesis' shareholders received $69.35 in cash for each share of Genesis' common stock that they held.

"The Genesis portfolio represents a tremendous opportunity for JER and Formation to acquire a quality portfolio of skilled nursing facilities and assisted living residences and to serve the growing demand of elderly Americans for medical and long term care," stated Cia Buckley, President of JER's US Fund Business. "We look forward to working with Genesis' management team, which has done an excellent job of repositioning the business in recent years, to continue executing the strategic initiatives in place." Arnold Whitman, Chief Executive Officer of Formation further commented, "Combining a superior management team with a capital partnership that is focused on modernization and enhancement of care and services to the elderly provides an excellent opportunity for growth in this dynamic industry."

George Hager, Chief Executive Officer of Genesis, added, "We are pleased to be partnering with two firms which understand our business from both a financial and operating standpoint. We have great confidence their strategic and financial support will enable us to grow and to better serve our patients and residents." Genesis is the fifth-largest provider of skilled nursing services in the United States with a portfolio of 220 skilled nursing and assisted living facilities totaling over 26,000 beds located primarily in the Mid-Atlantic and Northeast. Genesis generates more than 90% of its revenue from its skilled nursing and assisted-living services. The remainder arises primarily from a range of rehabilitation therapy services, including speech pathology, physical therapy, and occupational therapy. In addition, Genesis offers an array of other specialty medical services, including respiratory health services and physician services.

Genesis offers the largest regional concentration of skilled nursing facilities located in the Northeast, an area with high occupancy rates and limited new construction due to land scarcity, zoning restrictions and state licensing requirements. In 2006, the Genesis portfolio generated 48% of its revenues from Medicare and non-public payers and had occupancy of 91%, both figures above industry averages.

07-13-2007

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Prince Lobel Glovsky & Tye LLP

Joe Steinfield recommended as a Nationwide Leading Individual for First Amendment Litigation
Joe Steinfield was recommended by Chambers & Partners in Chambers USA: America's Leading Lawyers for Business 2007, as a Nationwide Leading Individual for First Amendment Litigation, Band 2: "Interviewees consider Joseph Steinfield to be a great lawyer. He is based in the Boston office of Prince, Lobel, Glovsky & Tye LLP, and defends clients in libel, invasion of privacy and newsgathering suits."

07-13-2007

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Healy & Baillie, L.L.P.

Philadelphia Lawyer Helps Avoid Proxy Contest
Blank Rome’s Finance Partner Barry H. Genkin’s advice on the use of proxy contests for corporate takeovers was profiled in the Legal Intelligencer. Mr. Genkin’s client, the former CEO and board chairman of a Dallas-based voice-automation technology company, didn’t feel company investors were getting the best value under the company’s current leadership After talks with management failed, Mr. Genkin said the group ultimately decided that a proxy contest was the best option.

Mr. Genkin analyzed the feasibility of the proxy contest under Texas law, and then his client put together a seven-member board to run against the existing board slate at the company's upcoming annual shareholders' meeting.

Significant SEC filings were made in furtherance of the proxy contest when the company’s current board renewed talks with Mr. Genkin’s client. In less than two months, the two sides were able to negotiate an agreement that had three existing board members step down and three of the new group step in, two of whom became chairman and vice-chairman.

In a contest that could have been an “all out war,” Genkin said both sides put on a positive campaign with no negative attacks. Part of the settlement was an agreement by the company to look into suggested changes, including objectives such as increasing the size of the sales force.

Mr. Genkin said proxy contests are being used more frequently in similar situations. Shareholder democracy is on the rise, he said. “In the corporate takeover area, it’s something that we are doing with greater regularity than we did in the past.”

Using proxy contests to take over companies is becoming a popular option for shareholders, Mr. Genkin added, because they can do it cost-effectively and in a relatively short timeframe, given that public companies have annual shareholders' meetings.

07-13-2007

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Fraser Milner Casgrain LLP

Brian Tobin Receives Honorary Degree from Brock University
Fraser Milner Casgrain is happy to announce that Brian Tobin senior business advisor, Fraser Milner Casgrain and former premier of Newfoundland and Labrador, received an honorary degree from Brock University at its 2007 Spring Convocation ceremony.

Brock is recognizing Brian Tobin for an outstanding career of public service and meritorious contributions towards improving Canada’s innovation performance and competitiveness in the knowledge economy.

07-13-2007

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Wilmer, Cutler, Pickering, Hale & Dorr, L.L.P.

WilmerHale Lawyers Take their Place Among DC Bar Leadership
In the latest DC Bar Association elections, WilmerHale lawyers were awarded two of the three available seats representing the District in the ABA House of Delegates as well as a seat on the Administrative Law and Agency Practice Steering Committee.

John Payton and Ryan Phair were both declared winners of seats on the DC Bar House of Delegates. The House of Delegates is the principal place where the association makes policy and sets the goals. Representatives of all the constituent parts of the local bar and affiliated organizations come together to debate and consider professional and public policy matters in order to develop and express an association point of view.

Jonathan Cedarbaum won a seat on the Administrative Law and Agency Practice Steering Committee, a position he will hold for three years. The steering committees plan programs, both educational and social, for the practice areas. Steering committee members are “among the most dynamic participants in the District’s legal community,” according to the DC Bar Association.

07-13-2007

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